Time Table

Although there are many factors that may have an impact on the public offering timeframe such as the size of the issuer company, industry it operates and its structure, the method used and market conditions, etc. and therefore it is difficult to create a “one size fit all” type timetable, the below example could prove useful as a reference point.

	Week 1					Week 2					Week 3					Week 4					Week 5					Week 6
Application to CMB and Borsa İstanbul	1	2	3	4	5	1	2	3	4	5	1	2	3	4	5	1	2	3	4	5	1	2	3	4	5	1	2	3	4	5
Regulatory Review by CMB and Borsa İstanbul
Decision of Borsa İstanbul
Approval of Prospectus by CMB
Announcement of Prospectus and Sales Circular
Public Offering
Notification of Sales Results to Borsa İstanbul
Commencement of Trading